spx corp (SPW) Key Developments
SPX Corporation Declares Quarterly Dividend on Common Share, Payable on July 1, 2015
May 28 15
SPX Corporation announced that its board of directors has declared a quarterly dividend of $0.375 per common share payable on July 1, 2015 to shareholders of record on June 16, 2015.
SPX Corporation Approves Amendments to Certificate of Incorporation
May 13 15
The shareholders of SPX Corporation approved amendments to company's certificate of incorporation to reduce par value at the AGM held on May 8, 2015.
SPX Corporation Presents at Electrical Products Group 2015 Conference, May-18-2015 02:45 PM
May 4 15
SPX Corporation Presents at Electrical Products Group 2015 Conference, May-18-2015 02:45 PM. Venue: The Resort at Longboat Key Club, Longboat Key, Florida, United States. Speakers: Christopher J. Kearney, Chairman, Chief Executive Officer and President, Eugene Joseph Lowe, President of Thermal Equipment and Services Segment.
SPX Corporation Announces Unaudited Consolidated Earnings Results for First Quarter Ended March 28, 2015 ; Provides Consolidated Earnings Guidance for the Second Quarter, Second Half and Full Year 2015
Apr 29 15
SPX Corporation announced unaudited consolidated earnings results for first quarter ended March 28, 2015. For the quarter, the company reported revenues of $946.9 million, operating income of $14.8 million, loss from continuing operations before income taxes of $0.1 million, loss from continuing operations of $9.6 million or $0.17 per diluted share, net loss attributable to company common shareholders of $7.1 million or $0.18 per diluted share, net cash used in operating activities of $108.8 million, capital expenditures of $14.4 million compared to the revenues of $1,077.1 million, operating income of $15.7 million, income from continuing operations before income taxes of $456.7 million, income from continuing operations of $296.7 million or $6.59 per diluted share, net income attributable to company common shareholders of $318.2 million or $7.06 per diluted share, net cash used in operating activities of $60.6 million, capital expenditures of $11.3 million for the same quarter a year ago.
For the second quarter, the company’s modeling targets, consistent with the first quarter, The company expects revenue to be down about 12%. The company expects organic revenue to decline 4% to 6% due primarily to lower power and energy sales in Flow and Thermal segments.
For the second half, The company expects to generate 2/3 of full year segment income. This is partly due to normal seasonality, particularly in comfort heating and aftermarket businesses. In the second half of the year, the company also expect to begin recognizing revenue on several of the recent large Food and Beverage awards.
For the year 2015, the company expected net income of $177.0 million, net interest expense of $68.0 million, income before interest and taxes of $325.0 million, depreciation and amortization expense of $104.0 million, EBITDA $429.0 million, and consolidated EBITDA of $520.0 million. On a consolidated basis, the company now expecting revenue to decline 6% to 10% year-over-year to about $4.36 billion at the midpoint. This includes a 6% headwind from currency translation. On an organic basis, the company expects revenue to be flat to down 4%.
SPX Corporation to Report Q1, 2015 Results on Apr 29, 2015
Apr 14 15
SPX Corporation announced that they will report Q1, 2015 results at 8:30 AM, US Eastern Standard Time on Apr 29, 2015